Smith-Midland Corporation

Smith-Midland Corp. engages in developing, manufacturing, marketing, leasing, licensing, selling, and installing of precast concrete products. The firm's products include SlenderWall Lightweight Construction Panels, Sierra Wall, J-J Hooks Highway Safety Barrier, Easi-Set Precast Buildings and Easi-Span Expandable Precast Buildings, Easi-Set Utility Vault, SoftSound Soundwall Panels, Beach Prisms Erosion Control Modules and Beach Prisms Erosion Control Modules. The company was founded by Rodney I. Smith and David G. Smith in 1960 and is headquartered in Midland, VA.

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Smith-Midland Corp. engages in developing, manufacturing, marketing, leasing, licensing, selling, and installing of precast concrete products. The firm's products include SlenderWall Lightweight Construction Panels, Sierra Wall, J-J Hooks Highway Safety Barrier, Easi-Set Precast Buildings and Easi-Span Expandable Precast Buildings, Easi-Set Utility Vault, SoftSound Soundwall Panels, Beach Prisms Erosion Control Modules and Beach Prisms Erosion Control Modules. SlenderWall is lightweight, energy efficient concrete and steel exterior wall panel for use in building construction. J-J Hooks Highway Safety Barrier is a positive-connected highway safety barrier. SoftSound a proprietary sound absorptive finish used on the face of sound barriers to absorb traffic noise. Sierra Wall is a sound barrier primarily for roadside use. Easi-Set and Easi-Span are transportable concrete buildings. The company founded by Rodney I. Smith and David G. Smith in 1960 and is headquartered in Midland, VA.

MIDLAND, VA / ACCESSWIRE / May 2, 2023 / Smith-Midland Corporation (NASDAQ:SMID), a provider of innovative, high-quality proprietary and patented precast concrete products and systems, will begin production on a $4.5 million project containing more than four hundred SlenderWall® Architectural precast panels for the new care tower on the Atrium Health Wake Forest Baptist Hospital campus in Wake Forest, North Carolina. The panels will have a white acid-etch finish with Vertical Reveals.

Smith-Midland Assists in Taking Healthcare to the Next Level with SlenderWall

MIDLAND, VA / ACCESSWIRE / April 27, 2023 / Easi-Set Worldwide, a subsidiary of Smith-Midland Corporation (NASDAQ:SMID), reports that the Florida Building Code Commission has renewed their approval (NOA: 27.078.05) for Easi-Set's proprietary product, SlenderWall ® , for use in Miami-Dade County other areas where allowed by Authority Having Jurisdiction (AHJ). SlenderWall ® precast building panels consistently pass testing performed by certified independent laboratories using nationally recognized standards and methods in; wind, fire, sound, blast, water, structural, seismic and air trials.

SlenderWall(R) Architectural Wall Panel System Renews Compliance for High Velocity Hurricane Zones

Fourth Quarter Revenue of $14.5 Million Record Backlog of $52.4 Million MIDLAND, VA / ACCESSWIRE / April 17, 2023 / Smith-Midland Corporation (NASDAQ:SMID) a provider of innovative, high-quality proprietary and patented precast concrete products and systems announces their fourth quarter and year-end results for the period ended December 31, 2022. Fourth Quarter 2022 Summary Revenue increased 45 percent to $14.5 million from fourth quarter of the prior year Signed record $8.6 million contract for NCDOT project Completed successful safety test for low-profile J-J Hooks system barriers Received patent for proprietary, building panel fire blocking system Full Year 2022 Summary Revenue of $50.1 million versus $50.6 million in 2021 Net income of $800,000, or $0.15 per diluted share Expanded rental barrier fleet from 250,000 to 550,000 linear feet Awarded updated approval for J-J Hooks barrier by the Florida DOT "We closed 2022 on a very strong note, with full year revenue nearly matching 2021 full year revenue, which included significant revenue from multiple high-profile, short-term barrier rental projects at the beginning of the prior year," said Ashley Smith, Chairman and Chief Executive Officer of Smith-Midland.

Smith-Midland Reports Fourth Quarter and Year End 2022 Financial Results

MIDLAND, VA / ACCESSWIRE / March 30, 2023 / Smith-Midland Corporation (NASDAQ:SMID) (the "Company"), a provider of innovative, high-quality proprietary and patented precast concrete products and systems, today announced that it will file a Form 12b-25 with the Securities and Exchange Commission to provide notice of the late filing of its Annual Report on Form 10-K ("Form 10-K") for the year ended December 31, 2022. The company expects to file its Form 10-K on or before April 15, 2023.

Smith-Midland Announces Delayed Filing of 2022 Form 10-K

MIDLAND, VA / ACCESSWIRE / March 23, 2023 / Smith-Midland Corporation (NASDAQ:SMID) (the "Company"), a provider of innovative, high-quality proprietary and patented precast concrete products and systems, today announced it intends to release the results of its operations for the fourth quarter and full year 2022 before the market opens on Thursday, March 30, 2023. The release will be available on the Company's website under the "Investors" section.

Smith-Midland Announces Release Date for Fourth Quarter and Full Year 2022 Earnings Results

MIDLAND, VA / ACCESSWIRE / February 16, 2023 / Concrete Safety Systems (CSS), the Concrete Highway Barrier rental division of Smith-Midland Corporation (NASDAQ:SMID), a provider of innovative, high-quality proprietary and patented precast concrete products and systems, is providing J-J Hooks MASH barrier for a new Virginia Department of Transportation (VDOT) project, making it one of the largest rental contracts in CSS history. Triton Construction, Inc. out of West Virginia, over the span of four years, will be renting over 15,000 linear feet of J-J Hooks precast concrete MASH TL-3 Bolt Down barrier for their project along I-81 and Route 33 in Harrisonburg, Virginia.

Concrete Safety Systems Delivers on I-81 in Virginia

MIDLAND, VA / ACCESSWIRE / January 19, 2023 / Smith-Midland Corporation (NASDAQ:SMID), a provider of innovative, high-quality proprietary and patented precast concrete products and systems, will be manufacturing just over $6 Million in Architectural Panels and Columns for two large projects located in Northern Virginia and New Jersey. The Company will manufacture thin-brick, custom-designed, Architectural Precast Security/Screen Walls and Posts for Phase II of the Dominion Idylwood Substation Project in Falls Church, Virginia.

Smith-Midland to Manufacture and Install $6 Million in Architectural Panels

MIDLAND, VA / ACCESSWIRE / January 4, 2023 / Smith-Midland Corporation (NASDAQ:SMID), a provider of innovative, high-quality proprietary and patented precast concrete products and systems, was recently awarded $5 Million in SoftSound® Noise Wall contracts for the I-495 Express Lanes Northern Virginia Extension (NEXT) project. Smith-Midland is working with Shirley Contracting Company out of Lorton, Virginia, and The Lane Construction Corporation, out of McLean, Virginia, to produce 24-foot wide ground mounted Noise Walls, 20-foot wide structure mounted Noise Walls and 10-foot wide precast retaining walls.

Smith-Midland Secures $5 Million in SoftSound(R) Noise Wall Contracts

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MIDLAND, VA / ACCESSWIRE / December 15, 2022 / Smith-Midland Corporation (NASDAQ:SMID), a provider of innovative, high-quality proprietary and patented precast concrete products and systems, announced today that it obtained a patent for a proprietary, building panel fire blocking system, that will be sold under the EASI-SET name. The patent of the innovative fire-blocking system, invented by Smith-Midland President and Chief Executive Officer, Ashley Smith, was assigned to EASI-SET on November 8, 2022.

Smith-Midland Announces Patent for Proprietary EASI-SET Building Panel Fire Blocking System

Stephanie Poe Promoted to Chief Financial Officer MIDLAND, VA / ACCESSWIRE / December 14, 2022 / Smith-Midland Corporation (NASDAQ:SMID), a provider of innovative, high-quality proprietary and patented precast concrete products and systems, announced today that Stephanie Poe, the Company's current Controller, has been promoted to the Company's Chief Financial Officer effective January 1, 2023. AJ Krick, who has served as the Company's Chief Financial Officer since 2018, is leaving the Company to start his own CPA business, and will serve in a consulting capacity with the Company to help ensure a smooth transition.

Smith-Midland Announces Chief Financial Officer Transition

Largest Contract in History of South Carolina Facility MIDLAND, VA / ACCESSWIRE / November 15, 2022 / Smith-Midland Corporation (NASDAQ:SMID), a provider of innovative, high-quality proprietary and patented precast concrete products and systems, announced today that it has been awarded a contract with the North Carolina Department of Transportation (NCDOT) for soundwall along the Hampstead Bypass in Pender County, NC. The $7.7 million contract will provide approximately 329,000 square feet of custom-designed precast soundwall panels and 46,000 linear feet of precast columns, as well as precast J-J Hooks barrier, along the Hampstead Bypass in Pender County, North Carolina.

Smith-Midland - South Carolina Awarded $7.7 Million Soundwall Contract

Record Backlog of $51.4 Million, 80 Percent Year-Over-Year Increase MIDLAND, VA / ACCESSWIRE / November 3, 2022 / Smith-Midland Corporation (NASDAQ:SMID), a provider of innovative, high-quality proprietary and patented precast concrete products and systems today announced its results for the third quarter ended September 30, 2022. Third Quarter 2022 Summary (Compared to Prior-Year Quarter) Backlog increased 80 percent to $51.4 million, a record for the Company Royalty revenue increased 23% to $833,000 Easi-Set building revenue increased 168% to $1,523,000 Total revenue of $12.0 million, compared to $13.1 million Product sales of $7.1 million, compared to $7.2 million Additional Items Subsequent to the Quarter Awarded $8.6 million contract (included in reported backlog) to produce precast concrete soundwall, columns, and J-J Hooks concrete barrier for a project with the North Carolina Department of Transportation (NCDOT) Completed successful crash test for low-profile barriers for use in the Texas and Florida markets "Our third quarter results reflect the continued resilience of our team, the value of our proprietary products, and the favorable ongoing macroeconomic trends across our industry.

Smith-Midland Reports Third Quarter 2022 Financial Results

MIDLAND, VA / ACCESSWIRE / October 28, 2022 / Smith-Midland Corporation (NASDAQ:SMID) (the "Company"), a provider of innovative, high-quality proprietary and patented precast concrete products and systems, today announced it intends to release the results of its operations for the third quarter 2022 before the market opens on Thursday, November 3, 2022. The release will be available on the Company's website under the "Investors" section.

Smith-Midland Announces Third Quarter 2022 Earnings Results Release Date

MIDLAND, VA / ACCESSWIRE / October 25, 2022 / - Smith-Midland Corporation (NASDAQ:SMID), a provider of innovative, high-quality proprietary and patented precast concrete products and systems, announced today that for the second time this year, they have signed a record-sized contract, working with Webber, LLC to produce precast concrete sound wall, columns, and J-J Hooks concrete barrier for a North Carolina Department of Transportation (NCDOT) project. The $8.6 million contract will provide approximately 24,000 square feet of custom-designed precast Sound Wall panels, 2,300 linear feet of precast columns, and 145,000 linear feet of J-J Hooks precast concrete barrier along Interstate 95 in Robeson County, North Carolina.

Smith-Midland - North Carolina Signs Record $8.6 Million Contract

SMID manufactures precast products, particularly for transportation infrastructure. The company enjoys a small moat in a competitive industry, has low capital requirements and no debt.

Smith-Midland Is A Good Company But It Is Extremely Overvalued

MIDLAND, VA / ACCESSWIRE / September 15, 2022 / Easi-Set Worldwide, a subsidiary of Smith-Midland Corporation (NASDAQ:SMID), today announced a signed license agreement with Critical Precast Structures Inc. ("Critical"), a subsidiary of the Powell Noise Wall Group, in Ontario Canada. Critical will manufacture Easi-Set & Easi-Span modular buildings for the Ontario and Northern New York state markets.

Easi-Set Worldwide Announces License Agreement With Canadian-Based Critical Precast Structures Inc.

MIDLAND, VA / ACCESSWIRE / August 17, 2022 / Smith-Midland Corporation (NASDAQ:SMID) (the "Company"), a provider of innovative, high-quality proprietary and patented precast concrete products and systems, today announced that management will attend and host investor meetings at the Midwest IDEAS Investor Conference on August 24, 2022. The Company's presentation is scheduled at 4:00pm ET and will be webcast and may be accessed through the conference host's main website: https://www.threepartadvisors.com/midwest.

Smith-Midland to Present and Host Investor Meetings at the 13th Annual Midwest IDEAS Investor Conference on August 24th

Reports 37 Percent Year-Over-Year Increase in Backlog to $35.7 Million MIDLAND, VA / ACCESSWIRE / August 11, 2022 / Smith-Midland Corporation (NASDAQ:SMID), a provider of innovative, high-quality proprietary and patented precast concrete products and systems, today announced its results for the second quarter ended June 30, 2022. Second Quarter 2022 Summary (Compared to Prior-Year Quarter) Revenue of $13.3 million, an 8 percent increase Barrier sales more than doubled to $2.3 million Barrier rentals of $2.0 million compared to $1.2 million Earnings of $0.17 per diluted share, compared to $0.19 Backlog at August 1, 2022 increased 37 percent to $35.7 million Additional Contracts Awarded Subsequent to the Quarter $3.4 million for Soundwall panels and posts as part of the reconstruction and widening of I-20 at the Broad River Road and I-26 interchange outside Columbia, SC Design of precast platform girders and more than 200 deck planks for the Regional Transportation Center in Claymont, DE 114,000 square feet of precast retaining wall used as part of the Hampton Roads Bridge Tunnel (HRBT) expansion in Virginia "Our second quarter results reflect the hard work of our team, the value of our proprietary products, and the favorable macroeconomic trends across our industry.

Smith-Midland Reports Second Quarter 2022 Financial Results

MIDLAND, VA / ACCESSWIRE / August 9, 2022 / Smith-Midland Corporation (NASDAQ:SMID) (the "Company"), a provider of innovative, high-quality proprietary and patented precast concrete products and systems, today announced it intends to release the results of its operations for the second quarter 2022 before the market opens on Thursday, August 11, 2022. The release will be available on the Company's website under the "Investors" section.

Smith-Midland Announces Second Quarter 2022 Earnings Results Release Date

MIDLAND, VA / ACCESSWIRE / July 28, 2022 / Smith-Midland Corporation (NASDAQ:SMID), a provider of innovative, high-quality proprietary and patented precast concrete products and systems, announced today it has secured more than $8.9 million in orders in recent weeks. The projects in these contracts incorporate a variety of the Company's precast products, including a $3.4 million order for its Soundwall panels and posts as part of the reconstruction and widening of I-20 at the Broad River Road and I-26 interchange outside Columbia, SC.

Smith-Midland Announces Multiple Contracts Valued at $8.9 Million

MIDLAND, VA / ACCESSWIRE / June 28, 2022 / Smith-Midland Corporation (NASDAQ:SMID) provider of innovative, high-quality proprietary and patented precast concrete products and systems announced that out of fifty-one nominated Chief Financial Officers throughout Virginia, Smith-Midland's Chief Financial Officer (CFO), AJ Krick, was named as a finalist in the 17th Annual Virginia Business CFO Awards. With four categories ranging from small non-profit/government to large company, there was a very diverse and talented group for the publication to review and choose from.

Smith-Midland's AJ Krick Finalist in the Virginia CFO of the Year Awards

MIDLAND, VA / ACCESSWIRE / May 18, 2022 / Smith-Midland Corporation (NASDAQ:SMID) provider of innovative, high-quality proprietary and patented precast concrete products and systems, today announced, Reliance Precast Limited of Papakura, Auckland, New Zealand,as a new licensed producer of its SlenderWall architectural cladding. "We were looking to find an innovative way to provide a new lightweight panel system to the New Zealand multi-level / commercial building market, and were drawn to SlenderWall.

Smith-Midland Names Reliance Precast Limited as New SlenderWall Licensee in New Zealand

Reports 13 Percent Increase in Backlog to $32.7 Million MIDLAND, VA / ACCESSWIRE / May 12, 2022 / Smith-Midland Corporation (NASDAQ:SMID), a provider of innovative, high-quality proprietary and patented precast concrete products and systems today announced its results for the first quarter ended March 31, 2022. First Quarter 2022 Highlights Compared to First Quarter 2021 Revenue of $10.4 million, a decrease of 31% SlenderWall sales of $1 million Operating expenses decreased 5 percent Backlog increased 13 percent to $32.7 million Received updated J-J Hooks approval from Florida DOT Continued strong balance sheet with sufficient liquidity Additional Highlights Subsequent to the Quarter Awarded $2 million soundwall contract for the Hampton Roads Bridge Tunnel Project Increased barrier buy-back agreement to 325,000 linear feet to more than double the rental fleet Awarded $6.6 million contract, marking the largest project for the North Carolina plant "The overall results for the first quarter in 2022 are less favorable compared to the record first quarter results in 2021, primarily due to non-recurring special projects that took place in the first quarter of 2021 and from a reduced production volume as we experienced operational disruptions related to required approvals and timing of large projects in the first quarter of 2022.

Smith-Midland Reports First Quarter 2022 Financial Results

Largest Contract in History of Reidsville, NC Plant MIDLAND, VA / ACCESSWIRE / May 10, 2022 / Smith-Midland Corporation (NASDAQ:SMID), a provider of innovative, high-quality proprietary and patented precast concrete products and systems, announced today that its Reidsville, North Carolina Plant has signed the largest contract in its history to produce precast concrete soundwall and J-J Hooks concrete barrier for a North Carolina Department of Transportation (NCDOT) project. The $6.6 million contract for a section of the new Interstate 74 Northern Beltway around Winston-Salem in Forsyth County, NC, will require over 330,000 square feet of soundwall with an ashlar stone finish on both sides of the wall along with more than 850 precast soundwall columns, as well as more than 31,000 linear feet of J-J Hooks concrete barrier.

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